Macroeconomic Instability and Political Stability. Argentina’s Recent Anomaly

Abstract

In recent years, most Latin American nations have undergone major crises and political transformations while their macroeconomic conditions have remained stable. In contrast, Argentina is characterized by coexisting high levels of macroeconomic instability and political and partisan stability. The purpose of the present article is to identify the causes of such political and institutional stability, which is sustained despite the macroeconomic disorder, the strong polarization and the deterioration of the social conditions. In addition, the article concludes pointing out which the main challenges that the country is faced with in order for the already achieved stability to be sustained in the near future are.